Stock exchanges today, Monday 15 May | Piazza Affari rises, the Istanbul Stock Exchange collapses
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The week starts cautiously, but positively for Piazza Affari and the European stock exchanges (here the data in real time). The main European indices are not affected by the shock suffered by the Istanbul Stock Exchange, which opened sharply down, with the Bist index dropping 6.6%, after the uncertain result of the presidential elections (which question the leadership, so far absolute, by Erdogan). The outcome of the vote that brought the two presidential candidates to the runoff also conditioned the performance of the Turkish lira, which fell against the dollar and against the euro. At the moment, 19.62 lire (+0.71%) are needed for a greenback and 21.33 (+0.38%) for the euro. State banks have intervened to keep the exchange rate around 19.65 per dollar, Bloomberg points out, citing sources close to the dossier.
The securities in Piazza Affari
Returning to Milan, the Ftse Mib, the basket of 40 leading stocks, gained 0.38% in the first stages of the session, reaching 27,451 points. Highlighted pharmaceutical and financial companies such as Recordati (+1.38%), Fineco (+0.95%), Moncler (+0.75%), Banco Bpm (+0.74%), Unicredit (+0.71% ), Intesa Sanpaolo (+0.7%), A2A (+0.65%) and Generali (+0.61%). While Cnh Industrial (-0.92%), Saipem (-0.75%), Inwit (-0.54%), Tim (-0.51%), Eni (-0.46%), Tenaris (-0.33%) and Poste (-0.25%).
Slightly declining spreads
Even the BTPs hold. The spread with the Bund, the difference in yield between our ten-year bonds and the German ones, is a measure of the reliability of our country, indicated at 188 basis points, two less than the level recorded on the previous day’s closing. On the other hand, the yield of the 10-year benchmark BTP rose slightly, achieving first place at 4.19% compared to 4.17% in the previous reference.
The reasons
The reasons for the optimism of the markets, very volatile in this period, would be linked to the fact that investors are focusing on the results of the quarterly reports and on the trend of economic growth, in view of the publication of the European Commission’s estimates. Among the topics on the table for those who move large masses of money is also the issue of raising rates by central banks.
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